Gokurakuyu Holdings Co., Ltd. completed the acquisition of Hot-Bath Business of Takachiho Co., Ltd.
July 01, 2019
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Gokurakuyu Holdings Co., Ltd. (JASDAQ:2340) signed a basic agreement to acquire Hot-Bath Business of Takachiho Co., Ltd. on April 24, 2019. The consideration will be paid in cash. Under the terms of the transaction, Gokurakuyu Holdings Co., Ltd. will establish a new company by the name of GOKURAKUYU East Japan, LLC on May 16, 2019 to take over the Hot-Bath Business. As of July 1, 2019, Gokurakuyu Holdings Co., Ltd. completed the acquisition of 4 stores namely Meike Yuttarien, Makio Yuttarien, Tomiya Yuttarien and Hanyuu Yuttarien. The remaining one store will be transferred as soon as the approval of the permit is confirmed. For the FY March 2019, Hot-Bath Business has sales of ¥1.4 billion. The transaction was resolved by the Board of Gokurakuyu Holdings Co., Ltd. on April 24, 2019. The transaction is expected to close on July 1, 2019.
Gokurakuyu Holdings Co., Ltd. (JASDAQ:2340) completed the acquisition of Hot-Bath Business of Takachiho Co., Ltd. on July 2, 2019.
Takachiho Co., Ltd. is primarily engaged in the souvenirs wholesale business, souvenirs retail business and other businesses. The Company operates in six business segments. The Souvenirs Wholesale segment involves in the wholesale of tourism souvenir products at the hotels, highway service areas and others. The Souvenirs Retail segment involves in the retail of souvenir products at shops. The Souvenirs Manufacturing segment involves in the production and sale of souvenir food. The Hot Bath Facilities segment operates hot bath facilities. The Real Estate Leasing segment involves in the operation of commercial facilities. The Outdoor Supplies segment operates outdoor supplies shops.
TAKACHIHO CO.,LTD. 
